William Hill profits rise by 19 per cent

2007-03-05 16:38:42

Leading UK bookmaker William Hill has announced a 19 per cent increase in year-on-year profits, rising from 245 million in 2005 to a core profit of 292 million last year.

The firm also revealed that the beginning of 2007 was similarly impressive, with gross rising by 11 per cent in the first nine weeks of the year.

Chief executive David Harding added that the firm planned to continue its expansion into other European markets during the coming year.

"Each region of Spain that deregulates we will commit around €10 million [£6.8 million]. In Italy we (William HIll and Codere) have committed to €10 million each but that might go up slightly if there are opportunities to grow faster," Harding told reporters.

Late last year William Hill renewed a deal with online software provider CryptoLogic, extending the two companies' agreement for a further three years.

But the bookmaker did caution that it was anxious over forthcoming UK regulations.

"We are concerned insufficient time is being given to the industry to enable full compliance with these technical standards from the beginning of September," the firm said in a statement.


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